There is no respite in sight for the markets. After a disappointing opening, the markets have been hovering around the lows of the day and there are no signs of even a technical pullback as yet. The Sensex is quoting far below the 17k mark at 16754, weaker by 364 points and the Nifty is at 5021, lower by 111 points. The mid-cap and small-cap sectors have shed around one and half per cent at 6782 and 8497 respectively.
The high-beta realty, metal and banking sectors continue to bore the brunt of selling pressure.
DLF has displaced Hindalco to emerge as the leading loser on the BSE. The realty major has weakened by 5.2% at Rs 267. Hindalco has shed 4.8% at Rs 140 and Sterlite has lost 3.9% at Rs 623. Tata Motors, Tata Steel and Reliance Infra are the other significant losers. And index heavyweight RIL has slid by 1.9% at Rs 1010.
In the midcap space, JM Financial, Rajesh Exports and Aurobindo Pharma have lost between 4% and 6% each. And the smallcap space has seen the likes of Bajaj Hindusthan Sugar,PVR and IFB Industries losing in the region of 5% each.
Stocks that have bucked the trend include Reliance Communications (stronger by 1.3% at Rs 170, Hindustan Unilever (higher by 0.4% at Rs 252) and ONGC (higher by 0.1% at Rs 1192).
The market breadth has collapsed totally. Out of 2469 stocks traded on the BSE, there are 576 advancing stocks as against 1827 declines.
